Money

How much money is enough?

Uber bAiV72
Nov 30

How much money is enough? At what point does one hang up their boots and take early retirement to a cheaper location? 1M, 5M, 10M? More? I don’t think I can play this IPO lottery game anymore.

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  • Facebook randomizer
    More important question imho is what do you want to do after you're retired? Cause that's what you should be doing today. If you think it's beaches or sitting at home, you probably don't know yourself well enough
    Nov 308
    • Chase #HustleBee
      🔥🔥🔥🔥
      Nov 30
    • Walmart.com / Engkirkgler
      This is a little too idealistic although maybe it works for us software nerds. What if the answer is full time artist but also have a family? Also I know a ton of wildlife biologists doing shit jobs because "the line for picking flowers in the forest is pretty long and it doesn't pay well"
      Nov 30
    • Chase #HustleBee
      you can plan for it, save for retirement while getting a side hustle, buy assets to pay for your living, while still living below your means and you work from there. you really have choices here and you’re in control
      Nov 30
    • New DuQvV7x
      As a retiree, I find @randomizers statement entirely impractical
      Dec 1
    • Facebook randomizer
      @DuQvV7x are you 65+ or early retiree? How do you spend your time
      Dec 1
    • New DuQvV7x
      I’m 44. Retired this year so spending a lot of it on travel.
      Dec 1
    • Facebook randomizer
      Nice, well done. How long do you plan to travel
      Dec 1
    • New DuQvV7x
      Nah, just pent up demand. I have a rather full plate starting in Jan with a key part being breathing some life into my dads farm
      Dec 1
  • Microsoft wKww20
    5M should do it for me
    Nov 302
    • Uber bAiV72
      OP
      That is what I have in mind as well.
      Nov 30
    • Snapchat MiseryLife
      Everyone seems to suggest this. But I think this is assume u r raising a family in the bay. I think you can get by in Austin TX or Colorado for way cheaper (without sacrificing much). Prolly 3 million is enough for a family in a cheaper state
      Dec 1
  • Walmart.com / Engkirkgler
    Learn about FIRE. I live the life I want (including a nice house, hot tub, 30m from best snow on earth, multiple awesome international vacations a year like hiking maccu piccu, mountain biking). It costs like 50k/year. Save the rest. Stop when you hit a safe withdrawal rate of $50k (1.25 million based off Trinity study). I can honestly say spending more money wouldn't make me happier.
    Nov 303
    • Chase #HustleBee
      where do you live?
      Nov 30
    • Chase #HustleBee
      I like SLC too but i don’t think i’d like the job availability that it has
      Nov 30
    • Chase #HustleBee
      what if I wanna transition into tech sales? I don’t think I wanna be at a bank anymore
      Nov 30
  • New CQwg28
    It's a moving Target. You think Target is 5M but by the time you get to that number the target is now more like 10. It always feels distant unless you got a IPO lottery
    Nov 301
    • Agilysys pewpyuu
      Also just psychology. Hedonic treadmill. Keeping up with the Jones’s. Etc.
      Nov 30
  • Facebook public2
    30m give or take
    Nov 300
  • Facebook Whateverrs
    5M
    Nov 300
  • General Mills / DataMUsi88
    You have to run the numbers for your life and standard of living, preferred location(s), possible future family planning and life events, risk tolerance, and employment plans if any in your retirement. No one can answer that for you.
    Nov 300
  • Juniper Pliny Jr.
    Currently, 5M is the sweet spot. Even Sure Orman says this.
    Dec 10
  • 30x the TC you want after retiring, roughly.
    Nov 300
  • Oracle fatalflaw
    It never is until you die and leave it all in the bank and in assets.

    You'll need familiar people from your younger days around you _more_ than you would need money. These won't be people whose asses you had to kiss to make it.
    Dec 10
  • NAVEX Global HollaBackG
    I probably wouldn’t retire until I had about $10M In the bank.
    Dec 10
  • Amazon pshrbxhsb
    2.5 M
    Dec 10
  • Intuit Uz1h6d
    2M
    Nov 300
  • Microsoft / EngTier 1
    10 small loans minimum
    Nov 300

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